How do you define success? For 74% of people, it’s owning a home. For most people, it ranked higher than careers or even family in a Bankrate.com poll.
NEW YORK – Nearly 75% of Americans say that owning a home is a more significant measure of achievement than having a successful career or even raising a family, according to a Bankrate.com survey of about 2,500 adults.
Three out of four (74%) survey respondents rated homeownership as the highest gauge of prosperity. It topped:
- Being able to retire (66%)
- Having a successful career (60%)
- Owning a car, truck, or other automobile (50%)
- Having children (40%)
- Earning a college degree (35%)
Older adults generally rate homeownership highest. Baby boomers (88%) and Gen X (78%) put homeownership at the top of their list compared to Gen Z (59%) and millennials (65%).
Of those surveyed who own a home, most don’t have any regrets.
“Nearly three in four homeowners say they would still buy their current home if they had to do it all over again,” says Greg McBride, Bankrate.com’s chief financial analyst. “Paying down debt, building savings and knowing the limits of what you can afford all provide the stable financial foundation on which ‘no regrets’ homeownership is built.”
Source: Bankrate.com and “Homeownership Remains the American Dream, Despite Challenges,” The New York Times (June 2, 2022)
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